- Azure Minerals (AZS) records up to 4.87 per cent lithium oxide in pegmatite samples from the Andover project in Western Australia
- Of 109 samples assayed to date, 85 graded over one per cent lithium oxide, 20 were over 3.5 per cent and nine were over four per cent
- The results come from the first of 709 samples collected between November and December, with assays for the remaining 600 expected by mid-February
- Azure’s Managing Director Tony Rovira says the results so far highlight the “huge potential” of the project to host substantial lithium resources
- Company shares were up 11.5 per cent trading at 34 cents at 12:50 pm AEDT
Azure Minerals (AZS) has recorded up to 4.87 per cent lithium oxide in pegmatite samples from the Andover project in Western Australia.
Of the 109 samples assayed to date from the company’s ongoing program, 85 graded over one per cent lithium oxide, 20 were over 3.5 per cent, and nine over four per cent.
These samples were selected for priority analysis based upon the presence of significant quantities of visible spodumene in the pegmatites, or interesting geological characteristics.
The results come from the first of 709 samples collected between November and December, with assays for the remaining 600 samples expected by mid-February.
Azure’s Managing Director Tony Rovira said the results so far highlight the “huge potential” of the project to host substantial lithium resources.
In particular, high grade lithium oxide of between 1.2 per cent and 4.9 per cent was identified at two prospects, along outcropping pegmatites of 700 metres and 400 metres strike lengths.
Given the grades and the strike lengths, AZS said these two pegmatites are now its highest priority drill targets in the near term.
Moving forward, the company said it will look to fast-track its exploration efforts and has planned a 30,000 metre reverse circulation drilling and diamond core program to determine the scale and depth potential of the mineralisation.
AZS said it is very likely more drill targets will be identified over the coming months as the pending analytical results from the 600 pegmatite samples are received.
Moreover, several outcropping pegmatites remain to be sampled and as such, sampling work will continue in parallel with the drilling programs.
Metallurgical, heritage, environmental, hydrological, and flora and fauna studies have also been planned.
Company shares were up 11.5 per cent trading at 34 cents at 12:50 pm AEDT.